AAPW vs. USOY

Last updated Jun 4, 2026

AAPW (AAPL WeeklyPay™ ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, AAPW returned 59.54% vs 57.29% for USOY. At a correlation of -0.07, they often move in opposite directions. AAPW charges 0.99%/yr vs 1.22%/yr for USOY.

Performance

AAPW vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAPL WeeklyPay™ ETF (AAPW) and Defiance Oil Enhanced Options Income ETF (USOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPW achieves a 15.21% return, which is significantly lower than USOY's 62.18% return.

AAPW

• 1D: -1.85%
• 1M: 14.30%
• YTD: 15.21%
• 6M: 9.47%
• 1Y: 59.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USOY

• 1D: 1.45%
• 1M: -3.43%
• YTD: 62.18%
• 6M: 59.35%
• 1Y: 57.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPW vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025
AAPW AAPL WeeklyPay™ ETF	15.21%	8.56%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-11.47%

Correlation

The correlation between AAPW and USOY is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	-0.07

The correlation between AAPW and USOY shifts across timeframes, from -0.22 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AAPW vs. USOY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPW

AAPW Risk / Return Rank: 62
AAPW Sharpe Ratio Rank: 64
AAPW Sortino Ratio Rank: 64
AAPW Omega Ratio Rank: 62
AAPW Calmar Ratio Rank: 69
AAPW Martin Ratio Rank: 51

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 55
USOY Sortino Ratio Rank: 46
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 78
USOY Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAPW vs. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAPL WeeklyPay™ ETF (AAPW) and Defiance Oil Enhanced Options Income ETF (USOY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAPW	USOY	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.89	+0.28
Sortino ratio: Return per unit of downside risk	3.01	2.30	+0.71
Omega ratio: Gain probability vs. loss probability	1.38	1.35	+0.03
Calmar ratio: Return relative to maximum drawdown	3.45	4.03	-0.58
Martin ratio: Return relative to average drawdown	8.65	7.74	+0.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAPW vs. USOY - Sharpe Ratio Comparison

The current AAPW Sharpe Ratio is 2.17, which is comparable to the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of AAPW and USOY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAPW	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	1.89	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.99	-0.44

Drawdowns

AAPW vs. USOY - Drawdown Comparison

The maximum AAPW drawdown since its inception was -36.28%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for AAPW and USOY.

Drawdown Indicators

	AAPW	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-36.28%	-17.46%	-18.82%
Max Drawdown (1Y) Largest decline over 1 year	-17.36%	-14.29%	-3.07%
Current Drawdown Current decline from peak	-1.85%	-5.11%	+3.26%
Average Drawdown Average peak-to-trough decline	-11.18%	-6.47%	-4.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.91%	7.42%	-0.51%

Volatility

AAPW vs. USOY - Volatility Comparison

The current volatility for AAPL WeeklyPay™ ETF (AAPW) is 6.61%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that AAPW experiences smaller price fluctuations and is considered to be less risky than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPW	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	11.62%	-5.01%
Volatility (6M) Calculated over the trailing 6-month period	19.54%	27.18%	-7.64%
Volatility (1Y) Calculated over the trailing 1-year period	27.56%	30.44%	-2.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.72%	26.13%	+8.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.72%	26.13%	+8.59%

AAPW vs. USOY - Expense Ratio Comparison

AAPW has a 0.99% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

AAPW vs. USOY - Dividend Comparison

AAPW's dividend yield for the trailing twelve months is around 31.37%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
AAPW AAPL WeeklyPay™ ETF	31.37%	28.83%	0.00%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both AAPW and USOY in my portfolio?

AAPW and USOY have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPW or USOY?

USOY has higher volatility (11.62%) compared to AAPW (6.61%). In terms of maximum drawdown, AAPW dropped -36.28% vs USOY's -17.46%.

Which ETF is better, AAPW or USOY?

On 1-year performance, AAPW leads with 59.54% vs 57.29% for USOY. On fees, AAPW is cheaper at 0.99% per year. On volatility, AAPW has been the lower-risk option at 6.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPW or USOY?

Over the 1-year period, AAPW has performed better with a 59.54% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPW or USOY?

AAPW is cheaper with a 0.99% expense ratio, compared with 1.22% for USOY.

Which ETF pays a higher dividend yield, AAPW or USOY?

USOY has the higher dividend yield at 54.16%, compared with 31.37% for AAPW.

What is the main difference between AAPW and USOY?

They also come from different issuers: Roundhill and Defiance. Their fees differ too: 0.99% for AAPW and 1.22% for USOY.

Which has better risk-adjusted returns?

AAPW currently has the higher Sharpe Ratio (2.17 vs 1.89), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.